When it comes to your finances, it’s always good to have a little more in savings than you already do. You never when you’re going to need to tap into those funds unexpectedly, whether it’s for something you don’t want to have to pay for—like vehicle repairs—or something you just decided that you can’t live without—like a new gaming chair. So to help ensure that you always have the money you need in savings without having to feel like you’ve been living a life of eternal penny pinching, here are three tips that will make saving money each month easier than ever.
Cancel Some Monthly Subscriptions
If you really try, you can likely find at least a few things in your monthly expenses that you don’t need to be paying for, or at least paying as much as you currently do. And according to John Schmoll, a contributor to Frugal Rules, you can save some decent money each month simply by opting out of the monthly subscriptions. For example, if you have a gym membership, cable TV channels, or an expensive cell phone plan, you can likely find ways to cut down those costs. Exercise can be completely free, you’re likely paying for some channels you’re not even watching, and there might be features of your cell phone plan that you rarely take advantage of. If you think about all your monthly subscriptions like this, you should be able to find at least a few ways you can save some dough and add that to your savings account each month.
Use Cash and Keep The Change
Some of the best ways to get yourself to save more money is to essentially trick yourself into doing it. One thing you can try, according to Donna Freedman, a contributor to the Huffington Post, is to start using cash for all your daily purchases. When you come home at the end of the day, take all your change and any one dollar bills you have and add them to a jar or piggy bank. At the end of the month, take all that money to the bank and add it straight into your savings account. You might be surprised just how much you can save by keeping your change.
Try A Spending Freeze
To keep yourself from spending any more money and simultaneously save money, Hillary Patin, a contributor to Simple.com, recommends doing a spending freeze once a month. This can be done for however long you want, but at least a few days to a week is advisable to see the most benefit. During this time, don’t spend any money. Use the groceries you already have, get creative with date night, or just stay home for the next few days. Then, take the money you would have spent by averaging what you spend on a daily basis during the month and add all that money into your savings account.
If you want to find simple yet effective ways to help you save more money each month, consider using the tips mentioned above to show you how you can do just that.